Accounting entries of hotel value-added tax accounting treatment

Replace business tax with value-added tax

After that, the overall tax burden of the hotel industry will be reduced, which is conducive to the development of the hotel industry. The accounting treatment of hotel value-added tax is a job that financial personnel must understand. Let's have a look.

Hotel VAT accounting entries

For small-scale taxpayers:

Borrow: cash

Loan: income from main business

Taxes payable-VAT payable

For ordinary taxpayers:

Debit: cash or bank deposits, accounts receivable, etc.

Loan: income from main business

Taxes payable-VAT payable (output tax)

Taxes payable refer to various taxes payable by enterprises, such as value-added tax, consumption tax, income tax, resource tax, land value-added tax, urban maintenance and construction tax and personal income tax.

In order to obtain operating income and realize profits in a certain period of time, enterprises should withhold and remit all kinds of taxes that should be paid to the state according to the accrual basis principle, and these taxes should be temporarily left in the enterprise before being paid, forming liabilities.

Characteristics of the hotel industry after the reform;

1, hotels with annual sales below 5 million yuan are listed as small-scale VAT taxpayers.

According to the policy, this part of taxpayers apply the simple tax calculation method and pay VAT at the rate of 3% (that is, sales *3%). Compared with the original business tax rate of 5%, their tax burden is directly reduced by about 40%.

2 hotels with annual sales of more than 5 million yuan are listed as general taxpayers of value-added tax.

These taxpayers are subject to the VAT rate of 6%, which is levied outside the price and business tax inside the price. Therefore, the value-added tax rate of 6% calculated according to the business tax caliber is equivalent to the business tax burden level of 5.66%.

This means that after the reform, the hotel's material procurement, equipment procurement, service procurement, real estate purchase and lease, office expenses, etc. Both can be deducted. Generally speaking, the tax burden of taxpayers has generally declined to varying degrees.

That's all about how to make accounting entries for hotel tax payment. For more tax information, please pay attention to this website.